The term means Her Majesty’s Revenue and Customs (HMRC) or HM Revenue & Customs which refers to the tax authority of the U.K. government. The agency, also known as Her Majesty’s Revenue Services, is responsible for collecting taxes, paying child benefits, enforcing tax and customs laws, and enforcing the payment of minimum wage by employers.
Responsibilities
We are responsible for:
- Income Tax, Corporation Tax, Capital Gains Tax, Inheritance Tax, Insurance Premium Tax, Stamp, Land and Petroleum Revenue Taxes
- Environmental taxes
- climate change and aggregates levy and landfill tax
- Value Added Tax (VAT), including import VAT
- Customs duty
- Excise duties
- Trade Statistics
- National Insurance
- Tax Credits
- Child Benefit
- enforcement of the National Minimum Wage
- recovery of Student Loan repayments
Priorities
We have 5 strategic objectives:
- collect the right tax and pay out the right financial support
- make it easy to get tax right and hard to bend or break the rules
- maintain taxpayers’ consent through fair treatment and protect society from harm
- make HMRC a great place to work
- support wider government economic aims through a resilient, agile tax administration system